Dometic acquires the assets of IPV and strengthens its position in mobile coolers
Dometic Group (“Dometic”), the global market leader in solutions for mobile living, has entered an agreement to acquire the assets of IPV, a German-based aftermarket provider of coolers and other outdoor products. The acquisition strengthens Dometic’s position in the EMEA market for mobile coolers. The purchase price is EUR 3.5 million.
IPV filed for insolvency in August 2016, and Dometic has worked with the insolvency administrator and IPV to reach a deal where Dometic acquires selected assets including inventory, tools, equipment and some trademarks. The acquisition will add annual sales of approximately EUR 15 million to Dometic. Some 25 employees will remain in the business including representatives of the founding family.
”IPV provides a very suitable complement to our current cooler business. The acquisition will broaden our customer base as well as provide strong entries into Eastern Europe”, says Roger Johansson, President and CEO of Dometic.
The acquisition is expected to be completed on January 3, 2017.
For more information, please contact:
Erika Ståhl, Head of Business Control & Investor Relations
Tel: +46 8 501 025 24
Email: ir@dometicgroup.com
This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 15.30 CET on 22 December 2016.
ABOUT DOMETIC GROUP Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 11.5 billion in 2015 and is headquartered in Solna, Sweden.